By Angela McDaniels
Tacoma, Wash., Dec. 23 - Goldman Sachs Group, Inc. priced $15 million of mandatory exchangeable notes due June 29, 2012 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes carry a coupon of 5.5% per year. Interest is payable quarterly.
The notes have a face amount of $393.95, which is equal to the initial share price set by the issuer. This is lower than the actual closing price of the stock on the pricing date, which was $396.45.
The payout at maturity will be an amount equal to the final share price, subject to a cap of $472.74, or 120% of par. The payment will be made in cash or Apple stock at Goldman Sachs' option.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Mandatory exchangeable notes
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $15,000,040.20
|
| Maturity: | June 29, 2012
|
| Coupon: | 5.5%, payable quarterly
|
| Price: | Par of $393.95
|
| Payout at maturity: | Amount equal to lesser of final share price and cap, payable in cash or Apple stock at issuer's option
|
| Initial share price: | $393.95
|
| Cap: | $472.74, 120% of initial share price
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.05%
|
| Cusip: | 38146R758
|
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